Jonas had a reputation for underestimating the abilities of his employees;__________workers were often let go after it had been
2 answers:
You might be interested in
The total cost applied to the job is $87,500 when the direct materials are $50,000, the cost of direct labor is $25,000 and the overhead cost is 50 % of direct labor.
<h3>What is meant by total cost?</h3>Total cost means the combined cost of materials, human labor, and the overheads incurred in the process of production.
Given values:
Cost of direct materials: $50,000
Cost of direct labor: $25,000
Cost of overheads: $12,500 ($25,000 X 50%)
Computation of total job cost:
Therefore, when the direct materials are $50,000, the direct labor is $25,000 and the overhead cost is $12,500, then the total cost of the job is $87,500.
Learn more about the overhead cost in the related link:
#SPJ1
Answer:
(1)
(2) The variable cost per unit produced is $7.60.
(3) The coefficient of determination is 0.96 or 96%.
(4) The estimated total cost is $5,046.67.
Explanation:
A regression analysis for the provided data is performed on Microsoft Excel.
The output is attached below.
(1)
The estimated regression equation that could be used to predict the total cost for a given production volume is:
(2)
The variable cost per unit produced is given by the slope of the line.
The slope of a regression line represent the value of the dependent variable for one unit of the independent variable.
So, the variable cost per unit produced is $7.60.
(3)
Consider the regression output attached.
The coefficient of determination is 0.96 or 96%.
This implies that the percentage of the variation in total cost that can be explained by production volume is 96%.
(4)
For Volume = 500 units predict the total cost as follows:
Thus, the estimated total cost is $5,046.67.
